Ripple Price Surges as SEC Appeal is Denied
The price of Ripple (XRP) has experienced a nearly 7% surge after the Securities and Exchange Commission’s (SEC) attempt to appeal its legal loss against the company was denied by Judge Analisa Torres. The judge ruled on October 3 that the SEC failed to prove that the initial decision was flawed. This ruling has had a positive impact on Ripple’s price, which is currently testing the midline of the supply zone at $0.5337. Breaking above this level would be significant and could lead to further bullish movement towards $0.5536 or even $0.6098.
Ripple Price Prognosis After Court Upholds Victory
The recent court ruling upholding Ripple’s victory has had an impact on its price movement. If the price can break and close above $0.5337, it would clear the way for further gains. However, a rejection at this level could signal a bearish trend, potentially sending the price down to around $0.5145 or even lower to $0.4452. Investors looking to enter long positions should wait for a decisive close above $0.5337, while shorts should set their stop losses just above this level.
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Hot Take: Ripple’s Legal Victory Boosts Price and Investor Confidence
The recent denial of the SEC’s appeal against Ripple has had a significant impact on the price of XRP. This legal victory has boosted investor confidence in the cryptocurrency and has the potential to drive further price gains. With the supply zone at $0.5337 being tested, breaking above this level could open up new bullish opportunities for Ripple. On the other hand, a rejection at this level could lead to a bearish trend. It will be interesting to see how Ripple’s price evolves in the coming days and whether it can maintain its upward momentum.
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